by Peter J. Bates

Wednesday, May 8, 2013

Survey Says...

I have always advocated the importance of research in order to effectively set a marketing strategy – when you’re equipped with knowledge, you’ve secured a degree of power that makes you a savvy strategist. In the effort to build on our wealth of information, Strategic Vision sponsored American Affluence Research Center’s Spring 2013 Affluent Market Tracking Study, a survey of the wealthiest 10% of U.S. households based on net worth.

The survey is based on self-administered questionnaires mailed to a randomly selected national sample of 4,500 men and women in households with specific income and assets ownership and a minimum net worth requirement of $800,000. Following a weighting of the respondents, the participants in this survey have an average net worth of $3.1 million and an average primary residence value of $1.2 million.

Some results were rather surprising...

What Magazines Do Affluents Read?
Marketing requires a constant examination of the luxury consumers’ interests, opinions and product preferences – including what publications comprise the affluent library. When asked what leisure magazines they read most on a regular basis (from a choice of 11 high-end titles), survey respondents indicated Travel + Leisure as their top choice (22%), followed by WSJ Magazine (19%), T: The New York Times Style Magazine (15%) and Departures (13%), which is distributed to American Express Centurion and Platinum Card holders.